Agent Rivera is completing Paragraph 4 of the TREC One to Four Family Residential Contract, which addresses the license holder disclosure. Agent Rivera is the listing agent. What information must be disclosed in this paragraph?
Correct Answer
A) Whether any license holder in the transaction has an ownership interest in the property
Paragraph 4 of the TREC contract requires disclosure of whether any license holder party to the transaction has an ownership interest in the property. Texas law requires license holders to disclose their licensed status when they have an interest in the property.
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In the TREC One to Four Family Residential Contract, Paragraph 16 addresses mediation. What does this paragraph require before the parties can file a lawsuit related to the contract?
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